Anthem Biosciences IPO

About the company

Incorporated in 2006, Anthem Biosciences is an innovation-driven contract research, development and manufacturing organisation (CRDMO). The company has fully integrated operations spanning across drug discovery, development, and manufacturing. Anthem Biosciences is one of the few companies in India with integrated new chemical entity (NCE) and new biological entity (NBE) capabilities across drug discovery, development, and commercial manufacturing. The company operates through two key business segments: CRDMO services and the manufacture and sale of specialty ingredients. For FY25, CRDMO services contributed 81.65% of revenue (₹1,506 crore), while speciality ingredients contributed 18.35% (₹338 crore) of total revenue from operations of ₹1,844 crore. Within CRDMO services, R&D contributed 10.87% and D&M (developmental and commercial manufacturing) contributed 70.78% of total revenue for FY25. The company has three manufacturing facilities: Unit I in Bommassandra, Unit II in Harohalli, and Unit III in Harohalli (under construction, expected to be completed by H1FY26). As of March 31, 2025, they have a custom synthesis capacity of 270 kL and a fermentation capacity of 142 kL, which is the largest fermentation capacity among Indian CRDMO companies. The company plans to further expand its capacity to 425 kL and 182 kL, respectively, by H1FY26. As of March 31, 2025, the company had more than 550 customers across both the CRDMO and speciality ingredients businesses, spread over more than 44 countries, including the United States, European countries, and Japan. The top five customers collectively accounted for 70.92% of revenue from operations for FY25, with the largest customer contributing 24.22% of revenue. The company serves three large pharmaceutical companies for whom they manufactured 5 of their top 6 commercialised molecules by revenue in FY25. The global pharmaceutical industry is projected to grow at a CAGR of 6.4% from 2024 to 2029 to reach $2,076 billion by 2029, driven by factors such as growth of the elderly population, rising incidence of chronic diseases, and increasing health awareness. The Indian CRDMO industry, which is one of the fastest-growing globally is likely to grow at a CAGR of 13.4% from 2024 to 2029 to reach an estimated value of $15.4 billion, outpacing the global industry rate of 9.1%. The company has completed over 8,000 unique programs commissioned by customers and worked on molecules with more than 675 clients at various stages of the drug development lifecycle over the last 15 years. Anthem Biosciences is among three CRDMOs in India that possess technological capabilities across ADCs, RNAi, peptides, and oligonucleotides, which are among the fastest-growing technologies in the pharmaceutical industry, according to the F&S Report. They have established industry-leading profitability and capital efficiency metrics, with their EBITDA margin of 36.81% in FY25 being the highest compared to assessed peers in India and the second highest globally. Now, Anthem Biosciences Limited is launching its initial public offering (IPO), which is a complete offer for sale worth up to ₹3,395 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   14 Jul 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   16 Jul 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   17 Jul 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   18 Jul 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   18 Jul 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   21 Jul 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.